According to the latest report from the Ministry of Information and Communications (MoIC), total revenue in the country’s ICT industry in 2016 is estimated at VND1,337 trillion ($59.9 billion), a year-on-year increase of 9.36 per cent.

The ICT industry contributed VND145.9 trillion ($6.54 billion) to the State budget, accounting for 14.38 per cent of total State budget contributions.

Revenue from telecommunications was estimated at VND365.5 trillion ($16.4 billion), a year-on-year increase of 7.5 per cent and accounting for 27.32 per cent of the total. The sector contributed VND50.4 trillion ($22.6 billion) to the State budget, accounting for 34.54 per cent of the total.

Revenue from information technology (IT) is estimated at VND939.4 trillion ($28.7 billion), a year-on-year increase of 10 per cent, and representing 70.22 per cent of total revenue. The IT industry contributed VND93.9 trillion ($4.21 billion) to the State budget, accounting for 64.38 per cent of the total.

As at December, the number of workers in ICT totaled 600,000, including about 300,000 in the hardware industry and the remainder in software and digital content.

MobiFone’s revenue reached VND38.4 trillion ($1.72 billion) in 2016, equal to 107.2 per cent of its annual plan and an increase of 14.5 per cent against 2015.

Pre-tax profit was estimated at VND5.2 trillion ($233.2 million), equal to 100 per cent of its annual plan, while return on equity was estimated at 25.6 per cent. It contributed VND4.6 trillion ($206.2 million) to the State budget this year.

In November, the second-largest local mobile network operator announced plans to earn VND33.1 trillion ($1.48 billion) in revenue and VND4.16 trillion ($186.5 million) in after-tax profit for the year as a whole and to contribute VND4.6 trillion ($206.2 million) to the State budget.

Consolidated revenue of the Vietnam Post Corporation (VietnamPost) was VND11.9 trillion ($533.6 million), equal to 117 per cent of its annual plan and a year-on-year increase of 35.8 per cent. Consolidated pre-tax profit was estimated at VND185.5 billion ($8.32 million), equal to 105.3 per cent of its annual plan and a year-on-year increase of 20.6 per cent.

VTC’s revenue is estimated at VND5.2 trillion ($233.1 million) in 2016, up 34 per cent against its annual plan and 39 per cent against its 2015 plan. Pre-tax profit was VND180 billion ($8.07 million), up 46 per cent against 2015 and 15 per cent against its 2016 plan.